Intercept Pharma Posts Wider Q1 Loss On Non-cash Expenses - Quick Facts

(RTTNews) - Intercept Pharmaceuticals, Inc. (ICPT) reported a first-quarter net loss of $257.7 million, or $13.21 per share, compared to a net loss of $10.2 million, or $0.62 per share, for the first quarter of 2013. The company noted that its results for the quarter included non-cash expenses totaling $245.7 million comprised primarily of warrant revaluation expense of $226.6 million and stock-based compensation expense of $19.1 million.

On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $0.72 for the quarter. Analysts' estimates typically exclude special items.

Licensing revenue was $405 thousand, flat with prior year. Analysts expected revenue of $400 thousand for the quarter.

Research and development expenses increased to $25.9 million from $4.8 million, primarily as a result of an increase in non-cash stock-based compensation of $16.9 million and increased activities in PBC development program for product candidate, obeticholic acid, the company said.